Latest / Bloomberg Intelligence / Bloomberg's Wilson on Winners, Losers, Stock of the Day (Audio)

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Bloomberg's Wilson on Winners, Losers, Stock of the Day (Audio) · Bloomberg Intelligence

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  Speaker 1: Global business news twenty four hours a day. If Bloomberg
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  Speaker 1: This is a Bloomberg's Business flat from Bloomberg World Headquarters.
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  Speaker 1: I'm Charlie Peltadal the SMP Nestak Hall moving higher, Folks
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  Speaker 1: from New York road runners ringing that closing belt as
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  Speaker 1: we wrap up trading on this Fed minutes Wednesday, Markets
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  Speaker 1: moving higher, SMP five hundred indecks up three now one
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  Speaker 1: at the close. There that is a gain of two
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  Speaker 1: tenths of one percent. Dow Industrial is up nineteen to
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  Speaker 1: eighteen thousand, five hundred seventy one, a gain of one
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  Speaker 1: tenth of one percent. NASTACK up a point to fifty
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  Speaker 1: two twenty eight. Again there of less than one tenth
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  Speaker 1: of one percent. Federal Reserve Meeting minutes, quelling speculation that
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  Speaker 1: borrowing costs could rise as soon as next month. A
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  Speaker 1: minute showed officials were divided in July over the urgency
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  Speaker 1: to raise interest rates again. Peter Kenny is senior market
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  Speaker 1: strategist at Glow Markets Advisory. He was our guest minutes
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  Speaker 1: ago right here on taking stock. The issue for the
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  Speaker 1: Fed is interest rates, and interest rates is not something
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  Speaker 1: that they can really engage in in September in terms
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  Speaker 1: of a race, it's not going to happen. And if
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  Speaker 1: it's not in September, it's not going to be before
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  Speaker 1: the elections, which means does it happen in December. That's
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  Speaker 1: far enough off in terms of the calendar for investors
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  Speaker 1: to not really have to focus on it. SMP five
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  Speaker 1: in decks up three points to two, a gain of
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  Speaker 1: two tenths of one percent, and has stack up a
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  Speaker 1: point down. Industrial is up twenty. That is a gain
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  Speaker 1: of one tenth of one percent. The tenure of six
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  Speaker 1: thirty seconds yield one point five five percent. Gold lower
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  Speaker 1: by four thirty eight a dropped there are three tenths
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  Speaker 1: of one percent. West Texts Intermediate crewed up thirty cents
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  Speaker 1: a barrel eight on w T I that's a gain
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  Speaker 1: of six tenths of one percent. Among the retailers declining today,
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  Speaker 1: Target it was down six point four percent, cutting its
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  Speaker 1: annual forecast after the retail chain's sales slumped last quarter.
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  Speaker 1: Heading in the other direction, Urban Outfitters, It advanced today
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  Speaker 1: by fifteen point four percent. Again, Gold down three tents
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  Speaker 1: of one four oh two on wall Street. Now, let's
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  Speaker 1: look at other news from around the world. Charlie, Thank
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  Speaker 1: you from the Bloomberg Newsroom by Mark Crumpton. Democratic presidential
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  Speaker 1: nominee Hillary Clinton made a campaign stop in Cleveland, Ohio today.
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  Speaker 1: She encouraged her supporters to get the word out. I
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  Speaker 1: hope you will talk to any of your friends who
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  Speaker 1: are flirting with the idea of voting for Donald Trump.
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  Speaker 1: Friends don't let friends vote for Trump. And with less
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  Speaker 1: than three months to go until election day, the Trump
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  Speaker 1: campaign is undergoing a major staff shake up. The billionaire
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  Speaker 1: real estate mogul is bringing in Stephen Bannon of Breitbart
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  Speaker 1: News as chief executive officer and promoting pollster Kelly and
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  Speaker 1: Conway to campaign manager. RNC communications director Sean Spicer. I
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  Speaker 1: think in the final eighty three days, you're gonna see
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  Speaker 1: a very focus, a very disciplined campaign that makes sure
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  Speaker 1: that not only do we take the case to Hilly Clinton,
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  Speaker 1: whether we put out a message that welcomes more people
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  Speaker 1: into this party, understands the challenges and the frustration that
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  Speaker 1: people face and give them a new vision and new
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  Speaker 1: hope as to where this country can go. Campaign Chairman
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  Speaker 1: Paul Manaford, who formerly took over the reins following the
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  Speaker 1: departure of Corey Lewandowski, and June will retain his current title.
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  Speaker 1: Four pro football players face suspension next week if they
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  Speaker 1: don't talk to the NFL concerning allegations about band performance
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  Speaker 1: enhancing substances. Commissioner Roger Goodell's office says the players are
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  Speaker 1: obligated to cooperate with the investigation. The allegations against James Harrison,
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  Speaker 1: Clay Matthews, Julius Peppers and Mike Neil arose in a
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  Speaker 1: report last year by Al Jazeera. The players union says
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  Speaker 1: the four aren't required to submit to interviews. Global News
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  Speaker 1: twenty four hours a day, powered by more than twenty
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  Speaker 1: journalists and and list in more than one twenty countries.
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  Speaker 1: I'm more Crumpton. This is Bloomberg, Charlie, and we thank you.
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  Speaker 1: And again we are on Cisco Watch. Should be getting
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  Speaker 1: Cisco's results any minute now. We've got the doll the
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  Speaker 1: SMPNAZDAC all advancing on this Wednesday, SMP up for two
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  Speaker 1: a gain there of two tenths of one percent. I'm
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  Speaker 1: Charlie Pellett and that's a Bloomberg business flash. Move around.
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  Speaker 1: Morton creates the motion at the elite t move you
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  Speaker 1: moved like they do. I've never seen anyone move that back.
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  Speaker 1: Five people, Let's move like to greet a purpose. Stuff
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  Speaker 1: is called movers and shakers. It costs a little more
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  Speaker 1: of that name. Cracked me up. Bloomberg taking stock Movers
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  Speaker 1: and Shakers with Pim Fox and Kathleen As on Bloomberg Radio.
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  Speaker 1: Movers and Shakers for Wednesday, August the seventeen twenty is
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  Speaker 1: sixteen three hundred and three issues in the SMP five
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  Speaker 1: hundred move higher, one and nine, seven decline, and five
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  Speaker 1: are unchanged. Dave Wilson, Bloomberg Stocks Commas joins us now
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  Speaker 1: to begin our movers and shakers. Dave, Yeah, before I
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  Speaker 1: mentioned a stock, let me just point out that, yes,
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  Speaker 1: it's the eighth day in a row or the SMP
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  Speaker 1: five hundred change direction from the previous day down up, down, up, down,
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  Speaker 1: up down, and today up and in that time the
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  Speaker 1: index has moved less than a point. Just goes to
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  Speaker 1: show you what we're dealing with at this point. Wasn't
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  Speaker 1: a good day though for for profit hospital chains. You know,
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  Speaker 1: it was late Monday that at the set it would
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  Speaker 1: withdraw next year from most markets where it's offering Affordable
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  Speaker 1: Care Act coverage. You know, they followed the lead of
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  Speaker 1: United Health and Humanity in scaling back their participation of
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  Speaker 1: what's known as Obamacare. The moves triggered concerned that hospital
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  Speaker 1: admissions may slow and they A debt may increase, and
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  Speaker 1: that combination, well, you've got h c A holdings falling
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  Speaker 1: two point eight percent on the day, Tenant health Care
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  Speaker 1: down three point three and Community Health Services with a
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  Speaker 1: loss of five point eight percent. We know, we've been
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  Speaker 1: looking at a lot of retailers under pressure today for
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  Speaker 1: a variety of reason. It's probably the big picture reason
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  Speaker 1: for many of them, as people just aren't spending as
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  Speaker 1: much money Target, Barnes and Noble, so many more. But
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  Speaker 1: so let's take a look at somebody who is either
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  Speaker 1: lucky or doing it right. Urban Outfitters up fifteen percent
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  Speaker 1: today to thirty six dollars and change. Urban Outfitters topping
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  Speaker 1: analyst estamates for second quarter sales and profits are Bloomberg.
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  Speaker 1: Story by Nick Turner also talks about how children's places
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  Speaker 1: doing well. They're gain only about a percent. Nevertheless, these
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  Speaker 1: results do help brighten the outlook of a sector that
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  Speaker 1: is suffering from sluggish small traffic a shift of young
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  Speaker 1: shoppers to online shopping. In fact, Aeropostal American Apparel, Quicksilver,
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  Speaker 1: and Pacific Sunwear have all filed for bankruptcy over the
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  Speaker 1: past European not just telling you right now about Cisco.
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  Speaker 1: The company coming out with its fourth quarter fiscal earnings
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  Speaker 1: per share of sixty three cents that is better than
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  Speaker 1: the average annless estimate of sixty cents. The company also
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  Speaker 1: saying that it will cut up to fifty five hundred jobs.
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  Speaker 1: Shares right now of Cisco are lower by about three percent.
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  Speaker 1: In after hours of trading, I was gonna tay about
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  Speaker 1: Caesar's Entertainment the shares higher by more than six percent.
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  Speaker 1: The company says they've made progress in negotiations with dissident
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  Speaker 1: bond holders and should have a deal before it's operating
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  Speaker 1: units disputed bankruptcy plan goes up for a judge's approval.
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  Speaker 1: This all according to a court appointed mediator. Once again,
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  Speaker 1: shares of Caesar's Entertainment up more than six percent. Well,
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  Speaker 1: Viacom has been locked in this power struggle between its
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  Speaker 1: controlling shareholders Sumner Redstone and his daughter Sherry, and the
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  Speaker 1: management under chief executive and chairman Philip Dowmond and now
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  Speaker 1: Fortune magazines reporting that the two sides appear to be
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  Speaker 1: close to an agreement under which Downmond would give up
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  Speaker 1: his jobs. The reports sided unnamed sources and the prospect
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  Speaker 1: of a management shuffle looking like a positive for Viacom,
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  Speaker 1: the shares gaining two point one percent on the day. Well,
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  Speaker 1: I want to take a look at Popeye's. This is
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  Speaker 1: uh obviously a restaurant that has fallen victim to softening
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  Speaker 1: sales across the restaurant industry. Popeye's, in fact down more
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  Speaker 1: than ten percent. I want to just find my latest
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  Speaker 1: look here. Yeah, and it was down more than ten percent.
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  Speaker 1: It narrowed out last too, about five point six percent. Nevertheless,
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  Speaker 1: it posted we could expected same story sales growth for
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  Speaker 1: the second quarter and more. Uh It's CEO said that
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  Speaker 1: slower sales were consistent with the sector. In other words,
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  Speaker 1: other people are slowing down too. And in fact, even
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  Speaker 1: as popeye sales weakened during the quarter, it grabbed market share,
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  Speaker 1: hitting a record point six percent of the quick service
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  Speaker 1: chicken segment. Not just hey that Cardinal Financial Corporation the
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  Speaker 1: shares higher by more than five percent, today United Bank
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  Speaker 1: shares and talks to buy the rival a lender the
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  Speaker 1: Succording to a person familiar with the matter, the deal
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  Speaker 1: perhaps will be announced in the coming days. Cardinal Financial
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  Speaker 1: has total assets of about four point two billion, and
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  Speaker 1: they have offices in Virginia, Maryland, and Washington, d C.
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  Speaker 1: United Banks shares headquartered in Washington, d C. And Charleston,
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  Speaker 1: West Virginia. Once again, the shares of Cardinal Financial up
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  Speaker 1: more than five percent. Time Now for the volatility and
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  Speaker 1: outcomes vixed, Well, not such a powerful outcome today. Now
• 9:46
  Speaker 1: the VIX had been on its way to its biggest
• 9:48
  Speaker 1: two day clime to day climb. I should stay in
• 9:50
  Speaker 1: seven weeks. Instead it's closing down a half point at
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  Speaker 1: twelve point one six. All right, Dave, you're up. Hi,
• 9:58
  Speaker 1: My name is Dave. Just what do you think you're doing?
• 10:03
  Speaker 1: We're going day tell us about Site one Landscape Supply. Now,
• 10:15
  Speaker 1: this is a company pin that does business with professionals
• 10:18
  Speaker 1: who design, install and maintain landscaping. Company refers to itself
• 10:24
  Speaker 1: as the largest and only national wholesale distributor of landscape
• 10:28
  Speaker 1: supplies in the US. It also does business in Canada.
• 10:31
  Speaker 1: Site one is backed by the buyout firm Clayton, Debilia
• 10:34
  Speaker 1: and Rice and the farm equipment maker Deer. Together their
• 10:38
  Speaker 1: stakes amount to sixty nine Clayton, Debillia and Deer accounted
• 10:43
  Speaker 1: for all the ten million shares the company sold in
• 10:46
  Speaker 1: May when it went public. Now Site one's ticker is
• 10:50
  Speaker 1: site s I t E, not a surprise giving its
• 10:52
  Speaker 1: name companies initial public offering, who has made as at
• 10:55
  Speaker 1: twenty one dollars a share and the stock ross high
• 10:58
  Speaker 1: as forty dollars and fifty five since last month. Today
• 11:01
  Speaker 1: brought a setback which followed the release of second quarter results.
• 11:05
  Speaker 1: Site one's revenue failed to meet the average animalist testament
• 11:08
  Speaker 1: in the Bloomberg survey, and sales excluding newly acquired businesses,
• 11:12
  Speaker 1: which the company calls organic revenue dropped two in the quarter,
• 11:19
  Speaker 1: and Site one shares suffered their biggest one day drop
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  Speaker 1: since the I p O. They declined as much as
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  Speaker 1: twelve percent of today's trading before closing with a loss
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  Speaker 1: of five points seven. Dave Wilson, thank you so very much.
• 11:34
  Speaker 1: He is our stocks editor and if you listen every day,
• 11:36
  Speaker 1: you know he's our resident musicologist. Playing Jimmy hendricks Is
• 11:40
  Speaker 1: star Spangled banner Wood Stock on fort anniversary of that performance.
• 11:45
  Speaker 1: I'm Kathleen Hayes along with Pim Fox. Up next, Jim
• 11:48
  Speaker 1: Webber from Brooks Running. He's based in Seattle. He's in
• 11:51
  Speaker 1: our New York studio today. A look at the Olympics.
• 11:54
  Speaker 1: Yet another way in which it favors some of the
• 11:57
  Speaker 1: people put the Olympics together, but isn't so good for
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  Speaker 1: the f welits. This is Bloomber Bloomber. Taking stock is
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